TY - JOUR
T1 - Market-based control mechanisms for patient safety
AU - Coiera, E.
AU - Braithwaite, J.
PY - 2009/4/1
Y1 - 2009/4/1
N2 - A new model is proposed for enhancing patient safety using market-based control (MBC), inspired by successful approaches to environmental governance. Emissions trading, enshrined in the Kyoto protocol, set a carbon price and created a carbon market-is it possible to set a patient safety price and let the marketplace find ways of reducing clinically adverse events? To "cap and trade, " a regulator would need to establish system-wide and organisation-specific targets, based on the cost of adverse events, create a safety market for trading safety credits and then police the market. Organisations are given a clear policy signal to reduce adverse event rates, are told by how much, but are free to find mechanisms best suited to their local needs. The market would inevitably generate novel ways of creating safety credits, and accountability becomes hard to evade when adverse events are explicitly measured and accounted for in an organisation's bottom line.
AB - A new model is proposed for enhancing patient safety using market-based control (MBC), inspired by successful approaches to environmental governance. Emissions trading, enshrined in the Kyoto protocol, set a carbon price and created a carbon market-is it possible to set a patient safety price and let the marketplace find ways of reducing clinically adverse events? To "cap and trade, " a regulator would need to establish system-wide and organisation-specific targets, based on the cost of adverse events, create a safety market for trading safety credits and then police the market. Organisations are given a clear policy signal to reduce adverse event rates, are told by how much, but are free to find mechanisms best suited to their local needs. The market would inevitably generate novel ways of creating safety credits, and accountability becomes hard to evade when adverse events are explicitly measured and accounted for in an organisation's bottom line.
UR - http://www.scopus.com/inward/record.url?scp=65649130454&partnerID=8YFLogxK
UR - http://purl.org/au-research/grants/arc/LP0775532
UR - http://purl.org/au-research/grants/nhmrc/568612
U2 - 10.1136/qshc.2007.025833
DO - 10.1136/qshc.2007.025833
M3 - Article
VL - 18
SP - 99
EP - 103
JO - Quality and Safety in Health Care
JF - Quality and Safety in Health Care
SN - 1475-3898
IS - 2
ER -